Lawmakers: Financial Bailout Agreement Reached

Lawmakers: Financial Bailout Agreement Reached Warned that time was running short to bolster the distressed economy, congressional Republicans and Democrats reported agreement in principle Thursday on a $700 billion bailout of the financial industry, and said they would present it to the Bush administration in hopes of a vote within days. Emerging from a two-hour negotiating session, Sen. Chris Dodd, D-CT, said, "We are very confident that we can act expeditiously."

"What I'm hearing is taxpayers get an equity stake in businesses that go for the bailout and exec. compensation is limited"
Yeah, I too want our entire country invested in securities so horrible that Wall Street won't even consider buying them at even hugely discounted rates.

I'm sure they'd love to Ima, but darn it, the schedule says Presidential and they're just Vice Presidential, so it would be wrong for them to jump in front of the heads of their tickets. It's a good idea but no, sorry, buh-bye now, oops here, take your idea with you and y'know, leave.

So is McCain going to stall the deal cause he didn't study enough for the debate.. like a kid who didn't do his homework.
And HELLO.. why can't Sarah and Joe debate at Ole Miss tomorrow if McCain needs some warm milk and nappy nap time? Couldn't that fix the scheduling issue?

i am NOT happy about equity stake... or any of this. i don't invest in the stock market and i don't want my taxes being invested on my behalf rather than being spent on programs that we desperately need. i hate how now we are supposed to feel thankful that a deal has been reached... even though the current administration are the ones who supported the deregulation that allowed it to happen, did not heed the warnings early on, have no proof it will actually WORK, and basically waited until the last minute to pull together some hasty crap and now want us to feel relieved. HELL NO. i'd be fired if i did any one of those things at work. unbelievable.

This is what MSNBC is reporting:
"McCain spokesman Brian Rogers said: "There’s no deal until there’s a deal."
He said McCain was optimistic an agreement between Congress and the Bush administration would be completed but that the afternoon developments had not changed his plans not to debate. "

What I'm hearing is taxpayers get an equity stake in businesses that go for the bailout and exec. compensation is limited (though I'm sure businesses will find a way to go around that). I'm happy about the equity stake!!

Thought we might have a good laugh over it at least!!!
As retrieved from the Washington Post and numerous other sources, a satirical e-mail frames the proposed $700 billion Wall Street bailout as a Nigerian 419 scam. The author is unknown:
Dear American:
I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.
I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 800 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.
I am working with Mr. Phil Gram, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.
This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.
Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.
Yours Faithfully Minister of Treasury Paulson